St. Paul daily globe., 1887-10-14
THE BANKERS.
They Discussed Several Important
TODics at Yesterday's Meeting

They Discussed Several Important
Topics at Yesterdays Meeting.
PITTsBURG, Pa, Oct. 13.-The attend
ance upon the session of the American
Bankers association this morning was
much larger than yesterday. The con-
vention proceeded Immediately to busi-
ness. W. B. Wilson offered the follow
ing: That in future all nominations
for president, vice president and execu-
tive council shall be made upon the
floor in open convention, and that the
vote thereon shall be by ballot,
Adopted. Judge Ewing offered the
following resolutions:
That we favor a rapid extinction of the
public debt and recommend the continued
purchase by the secretary of outstanding gov
ernment bonds. We consider reduction of
the revenue Hholly unnecessary inexpedient
and unwlSe. Let the surplus be promptly and
constantly applied 10 the liquidation of the
debt. and let the action of the treasury in the
work of buying the bonds be further regu-
lated, systelnatiZed and controlled by addi-
tional legislation.
The executive council then reported
the officers and council for the ensuing
year. Logan Murray, of New York, hay
ing been chosen president. A reSolu-
tion offered by Mr.. Taylor, of Boston, in
support of the proposition made by Mr..
Knox, recommending tie passage of a
bill for the refunding Of4 per cents into
275 per cents. caused spirited discus
sion, about the only one during the ses-
sion. 1t was finally tabled. The eXecu-
tive council presented a resolution
favoring the Washington centennial,
which was adopted. The report of the
committee on silver, which had been Of
fered earlier in the session and with
drawn, was again presented. The COM
mittee said:
The American Bankers association has
always taken the gronnd that both paper and
gold are required as the money Of the world,
but that Gn international agreement only, on
the part of majority of the chief CONNER
cial nations of the world, can practically
settle the question of the relative value Of
gold and silver when coined. Though sew
eral international conferences have hereto
fore been held no conclusion has as yet been
reached. The report refers TO the action
taken by foreign powers and concludes with
the recommendation that the coinage Of sill
yer dollars by the United States under the act
of congress of February, 1878, be suspended
until the points at issue of the silver question
be settled by international agreement
The report as presented was adopted.
and the convention adjourned finally.
In the afternoon the delegates and
other guests participated in q river eX-
cursion, by which they had an Oppor-
tunity of seeing the Davis Island dam,
constructed by the government, as well
as all the immense manufacturing eS-
tablishments, including the Edgar
Thompson works, located on the banks
of the rivers. Tomorrow an excursion
by rail to other leading interests will be
made, as well as to the natural gas
fields, within twenty-five miles of the
city. The session has been one of the
most enjoyable and interesting ever
held by the association..a .and the visitors
are loud in their praises over the man.
ner in which they have been enter
tanned.